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Chinese Video Sharing Start-up Yoqoo.com Raises $12 Million Round

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Yoqoo.com, a Chinese video sharing and distribution platform that doesn’t officially aunch until Dec. 21, has raised $12 million from Sutter Hill Ventures, Farallon Capital and Shanghai-based Chengwei Ventures. Founder and CEO Victor Koo is the former president of Sohu. Yoqoo has been in beta since June and claims millions of short-form video views and thousands of uploads daily. The investors expect Yoqoo tio play a leading role in the Chinese video-sharing market. Release.